B&G Foods Sees Unusually High Options Volume (NYSE:BGS)

B&G Foods, Inc. (NYSE:BGS) was the recipient of unusually large options trading activity on Monday. Traders bought 7,344 call options on the stock. This is an increase of 482% compared to the typical volume of 1,261 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BGS shares. TD Cowen lifted their price target on shares of B&G Foods from $3.00 to $3.50 and gave the company a “sell” rating in a research report on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of B&G Foods in a report on Monday, December 29th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $4.38.

Insider Buying and Selling at B&G Foods

In related news, Director Dennis M. Mullen sold 18,795 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $4.50, for a total value of $84,577.50. Following the completion of the transaction, the director directly owned 83,956 shares of the company’s stock, valued at $377,802. This represents a 18.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BGS. Goldman Sachs Group Inc. grew its stake in shares of B&G Foods by 324.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,707,044 shares of the company’s stock valued at $15,940,000 after purchasing an additional 2,833,090 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of B&G Foods by 26.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,377,381 shares of the company’s stock worth $14,523,000 after buying an additional 705,958 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of B&G Foods by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,384,298 shares of the company’s stock worth $10,086,000 after buying an additional 119,362 shares during the last quarter. Geode Capital Management LLC grew its position in B&G Foods by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,921,485 shares of the company’s stock valued at $8,264,000 after buying an additional 29,498 shares during the period. Finally, Millennium Management LLC increased its holdings in B&G Foods by 15,131.8% during the first quarter. Millennium Management LLC now owns 1,887,984 shares of the company’s stock valued at $12,970,000 after buying an additional 1,875,589 shares during the last quarter. Institutional investors own 66.15% of the company’s stock.

B&G Foods Trading Up 0.9%

Shares of BGS stock opened at $5.33 on Tuesday. The company has a current ratio of 3.20, a quick ratio of 1.30 and a debt-to-equity ratio of 4.29. B&G Foods has a 12-month low of $3.67 and a 12-month high of $8.06. The stock has a market capitalization of $426.05 million, a P/E ratio of -1.69 and a beta of 0.48. The firm’s 50 day moving average is $4.58 and its 200 day moving average is $4.50.

About B&G Foods

B&G Foods, Inc is a packaged foods holding company that develops, markets and distributes a diversified portfolio of branded shelf-stable and frozen food products. Headquartered in Parsippany, New Jersey, the company serves retail and foodservice customers across the United States and Canada. Through its network of manufacturing facilities, third-party co-packers and distribution partners, B&G Foods supplies grocery chains, mass merchandisers, club stores and e-commerce platforms.

The company’s product portfolio spans multiple categories, including vegetables, beans, soups, sauces and condiments, snacks, cereals and refrigerated or frozen offerings.